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Answer:
Six Sigma
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.
Generally, there are two (2) main methods of achieving the six sigma approach;
1. DMAIC: define, measure, analyze, improve and control. it is a data-driven improvement cycle used for improving processes and driving Six Sigma projects.
2. DMADV: define, measure, analyze, design and verify.
In conclusion, Six Sigma is used by various organizations or professionals to improve the level of quality of their products or services, as well as reducing to the barest minimum, the level of complaints in the services it provides to clients. Also, the Six Sigma approach to quality control avails businesses the ability to detect potential problems early, so as to prevent their occurrence.
Answer:
Confront theories predictions with evidence
Explanation:
To test economic theories, economists would observe real behavior and test it with data from the real world. Which would in turn provide evidence based on what is being tested. Confronting theories predictions with evidence is a pointer to the fact that economic theories are verifiable and their validity can be tested.
Answer:
C. They fail to incorporate cash flows beyond the first year of the analysis.
Answer:
free rider
true
true
Explanation:
The free rider problem is a form of market failure. It occurs when people benefit from a good or service of communal nature and do not pay to enjoy these services.
Downtown abbey can be classified as a public good, if it is made a private good, the problem would be solved
A public good is a good that is non excludable and non rivalrous.
A private good is a good that is excludable and rivalrous. They are usually exchanged in the market by private sector businesses. It
